US-based fintech Viamericas has launched its open payment network in the Philippines, aimed at improving international money transfers to the country. The platform allows financial institutions, payment service providers, and fintech firms to integrate through an API, enabling faster and more secure remittance services while maintaining control over the user experience.
The system allows customers in the US and Canada to send funds to recipients in the Philippines regardless of their local financial provider, leveraging existing payment infrastructure. This move follows the earlier launch of Viamericas’ cash-to-cash transfer service in the US and supports the growing remittance market, which sent over USD 669 billion globally to low- and middle-income countries in 2023. The open network is expected to improve access and efficiency, especially for underbanked populations, while supporting efforts to reduce transaction costs in line with UN development goals.
